Welcome to Grant & Co

Are you...

  • Looking for a pro-active accountant who’ll help you make more profit & pay less tax?
  • Starting out in business & need financial guidance & advice?
  • Struggling with your Self Assessment tax return?

Grant & Co are an independent firm of Chartered Accountants, based in Cheltenham, Gloucestershire.

We offer a comprehensive range of cost-effective accountancy, taxation and financial services to businesses and individuals alike. We work hard to get to know you so that we can deliver personalised, timely advice on how you can improve your personal and business wealth.

Businesses

We invite you to utilise our professional expertise and skills to help you achieve your goals. Think beyond the traditional role of the accountant. We have the knowledge to assist with every stage of the life of your business from company formation and business structuring; to financial and Corporation Tax planning; to outsourcing functions such as bookkeeping, payroll and VAT; through to business succession or selling your business. We aim to actively contribute to your success and you will find our approach modern and constructive.

Individuals

We take time to understand your aims & objectives in order that we can provide the highest quality of advice on Self Assessment, tax planning, Inheritance Tax, estate planning and trusts. Tax can be a complex and confusing subject and you will appreciate the value of having an adviser who will both clarify and optimise your tax position.

To find out more about how we can help you and your business click here for an overview of our services. To find out more about us click here. To access a wealth of information visit our resource centre or view our free factsheets.

Free Tax App from Grant and Co

It’s packed full of some really useful Tax Tables, Calculators and important dates

Learn more

FREE initial consultation call 01242 223160 or use the Contact Form.


Services Individuals & businesses

Thumbnail image

We have a range of accountancy and support services to suit both businesses and individuals.

Learn more

Resources Tools at your fingertips

Thumbnail image

Access to really useful resources including: calculators, tax rates and allowances.

Learn more

Get in touch free initial consultation

Thumbnail image

We would welcome the opportunity to assist you.

Learn more

The current hot topic

Job Support Scheme

As part of the Winter Economy Plan Chancellor Rishi Sunak announced the introduction of the government’s new Job Support Scheme (JSS). The JSS aims to protect jobs and support businesses over the coming months.

Following the initial announcement, the Chancellor announced an extension of the JSS.  The Job Support Scheme Expansion is designed to provide further support for businesses that have been legally required to close as a direct result of the COVID-19 restrictions set by one or more of the four governments of the UK.

The JSS and the Expansion are introduced from 1 November. The existing Job Retention Scheme, known as the furlough scheme, ends on 31 October.

Job Support Scheme

For employers to participate in the scheme:

  • employees will need to work a minimum of 33% of their usual hours
  • for every hour not worked, the employer and the government will each pay one third of the employee’s ‘usual hourly wage’
  • the government contribution will be capped at £697.92 per month
  • Class 1 employer National Insurance contributions and pension contributions will be due on the employee’s earnings and will be payable in full by the employer.

‘Usual wages’ calculations will follow a similar methodology as those for the furlough scheme. The scheme will run for six months from 1 November 2020.
Full details will be set out in guidance which is to follow.

Employees using the scheme will receive at least 77% of their pay, where the government contribution has not been capped.

The government guidance sets out a helpful table how the payment will be calculated with different percentages of working time.

Hours employee worked 33% 40% 50% 60% 70%
Hours Employee not worked 67% 60% 50% 40% 30%
Employee Earnings (% of normal) 78% 80% 83% 87% 90%
Government Grant (% of normal wages) 22% 20% 17% 13% 10%
Employer cost (% of normal wages) 55% 60% 67% 73% 80%

This table assumes the government contribution is not capped at the maximum monthly amount of £697.92.

The government has issued an example of how the JSS will work.

Beth normally works five days a week and earns £350 a week. Her employer is experiencing reduced sales due to COVID-19. Rather than making Beth redundant her employer puts Beth on the JSS, working two days a week (40% of her usual hours).

Under the JSS:

  • Her employer pays Beth £140 for the days she works
  • For the time she is not working (3 days or 60%, being £210) she will earn two thirds of her normal wages being £140 (2/3 of £210) bringing her total earnings to £280 (80% of her normal wage).
  • The government will pay a grant of £70 (1/3 of hours not worked to Beth’s employer).

All small and medium-sized enterprises will be eligible and will not be subject to financial assessment. Large businesses will have to meet a financial assessment test, so the scheme is only available to those businesses whose turnover is lower now than before experiencing difficulties from COVID-19. The government also expects that large employers will not be making distributions while using the scheme.

Job Support Scheme Expansion

The Expansion provides temporary support to businesses whose premises have been legally required to close as a direct result of COVID-19 restrictions set by one or more of the four governments of the UK.

The scheme will be available from 1 November for six months and will be reviewed in January. Employers will be able to make a claim on a monthly basis online through gov.uk from December.

Claims must not overlap and must be made monthly in arrears. The payments will be taxable and employers will be required to cover employer NICs and automatic enrolment pension contributions in full, where applicable. HMRC will check claims and payments may be withheld or need to be paid back if a claim is found to be fraudulent or based on incorrect information.

The grant per eligible employee is two thirds of their ‘normal pay’ up to a limit of £2,100 per month. The government will provide further detail on how normal pay is calculated.

Employers will be able to use the Expansion whilst their premises are closed and move employees onto the JSS if they are eligible when they are able to re-open.

Please contact us for further information on the Job Support Scheme.